Top Dog is where your brand wants to be! | radioinfo

Top Dog is where your brand wants to be!

Ever heard of Zipf's Law? If you are selling a product, then you need to study this natural phenomena. Mr. Zipf found that "the", the most used English word, occurred about twice as often as "of", the second most used word, and about three times as often as "and", the third most used.
 
Zipf's Law also applies to the brand preference of consumers and their spending habits.  Marketers have long known that it is better to be Number One than Number Two, but now you can attach a revenue consequence to that.
 
Mr. Jan Hofmeyr, an expert on consumer behavior, conducted a market research study in Australia.  He tested two product categories: toilet paper and instant coffee.  According to his model, consumers who used four brands of toilet paper would have been expected to spend 53% of their toilet paper budget on the top choice, 27% on the second brand and 13% on the third.  In this case, the consumers actually spent 50% on the top choice, 33% on the second and 9% on the third.
 
Zipf's Law clearly demonstrates the relative benefits of moving up in the rankings.  A product that leaps from second to first in a category can really affect the bottom line.  By determining a brand's ranking, you can predict market share.  Today's economy, with some brands silencing their calls for action, gives aggressive brands the chance to move up in the rankings and thus to build market share.
 

About The Author 

patbrysonsquare_149.Pat Bryson is the founder of Bryson Broadcasting International, a consulting firm that works with radio stations around the world to increase revenue by raising the skill level of their sales staffs. Her client list spans from the United States to Canada, Europe and Central Asia.

Pat has spent her entire career creating a culture of over-achievement for her stations. She began her career in radio sales, becoming one of the highest billing sales people in her market. Her career advanced to General Sales Manager, and then to Market Manager. Since starting BBI 7 years ago, she has helped hundreds of radio stations to find, train and grow great quality sales people and managers.

Pat was the recipient of two prestigious educational fellowships from the Educational Foundation of the National Association of Broadcasters: a fellowship to the Executive Development Program and a fellowship to the Broadcast Leadership Training Program.

She publishes the Bryson Broadcasting International Newsletter twice monthly and is a contributor to Valerie Geller's latest book, Beyond Powerful Radio: A Communicator's Guide To The Internet Age.

You may contact Pat at Pat@patbryson.com or visit her website at http://www.patbryson.com.

This article was republished with permission from Pat Bryson's Newsletter

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